Piper Sandler Initiates Coverage on Tango Therapeutics with Overweight Rating and $11 PT

Piper Sandler Initiates Coverage on Tango Therapeutics with Overweight Rating and $11 PT

Piper Sandler has initiated coverage on Tango Therapeutics (NASDAQ: TTH) with an Overweight rating and a $11 price target, as reported by Investing.com [1]. The investment firm highlighted Tango’s innovative approach to drug discovery and development, focusing on oncology and rare diseases. Piper Sandler noted that Tango’s proprietary technology, called the Tango Therapeutics Platform, enables the company to identify and validate new drug targets more efficiently than traditional methods.

Tango Therapeutics generates revenue through licensing fees and milestone payments from its drug development collaborations with pharmaceutical companies. The company’s pipeline includes several promising assets, including TTH1001, a therapeutic candidate for multiple myeloma, and TTH1011, a therapeutic candidate for solid tumors. Piper Sandler pointed to Tango’s significant growth potential, given the increasing demand for targeted therapies in oncology and the company’s strong intellectual property portfolio.

The investment firm also noted Tango’s strong financial performance, with adjusted EBITDA margin reaching 12.5% in 2024, up from 9.8% in 2023. Piper Sandler highlighted the company’s ability to generate free cash flow and its strong balance sheet, with a total debt-to-equity ratio of 0.25.

In addition to Piper Sandler’s positive rating, several other financial firms have initiated coverage on Tango Therapeutics. RBC Capital and BMO Capital both gave the company an Outperform rating, while Goldman Sachs initiated coverage with a Neutral rating. These developments reflect a growing interest in Tango Therapeutics from the financial community.

Overall, Piper Sandler’s initiation of coverage on Tango Therapeutics with an Overweight rating and a $11 price target underscores the company’s strong growth potential and innovative approach to drug discovery and development. Investors should closely monitor Tango Therapeutics’ progress and potential catalysts, such as clinical trial results and partnership announcements.

References:
[1] https://www.investing.com/news/analyst-ratings/piper-sandler-initiates-tango-therapeutics-stock-with-overweight-rating-93CH-4196830